Termination Of Contract For Convenience
Description
How to fill out Termination Or Cancellation Of Listing Agreement?
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FAQ
A termination for convenience clause, or "T for C" clause, enables a party to a contract to bring the contract to an end without the need to establish that the other party is in default, for example because the client party's needs have changed, or in order to arrange for another party to complete the contract.
Termination for convenience can be used when the upstream party is uncomfortable or would like to sever ties with the downstream party but does not have a reason to terminate for cause. Terminating for convenience often arises when continuing with the project is not financially feasible or desirable.
NOTICE OF TERMINATION FOR CONVENIENCE (SAMPLE) Pursuant to Section ___ (Termination) of the contract, this contract is hereby terminated effective [date]. [Contractor Name] is directed to immediately stop all work, terminate subcontracts, and place no further orders.
TERMINATION FOR CONVENIENCE The Owner may terminate this contract at any time by giving at least ten (10) days' notice in writing to the Contractor. If the contract is terminated by the Owner as provided herein, the Contractor will be paid for the time provided and expenses incurred up to the termination date.
The most common way to terminate a contract, it's just to negotiate the termination. If you want to get out of a contract, you just contact the other party involved and you negotiate an end date to that contract. There may be a fee to pay for cancellation. You might want to offer some type of consideration to cancel.
